Act on climate in haste - repent (in $$$) at leisure

Stating the Obvious Alert: That's the conclusion of Access Economics, who have said that the cost of taking fast action to "tackle climate change" would be up to 45% higher than taking a slower, more considered approach. This is in stark contrast to the modelling carried out by our own Treasury, which gave Krudd & Co the figures they all wanted to hear and said that it would make virtually no difference. No surprise there, given the Treasury has lost all credibility.

All this of course assumes:

• that reducing emissions in Australia will actually make any difference to atmospheric CO2 levels which, unless the rest of the world (including China, India, the US and the EU) participates as well, it emphatically won't; and
• that reducing atmospheric CO2 levels will actually have any effect on climate, which is still far from certain despite what Archbishop Gore and the High Church of the IPCC say.

Read it here.